Wells Fargo & Company Boosts Marsh & McLennan Companies (NYSE:MMC) Price Target to $213.00

Marsh & McLennan Companies (NYSE:MMC) had its price target raised by investment analysts at Wells Fargo & Company from $212.00 to $213.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 6.54% from the company’s previous close.

Several other research analysts have also recently weighed in on MMC. Piper Sandler cut shares of Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 price target for the company. in a report on Wednesday. Morgan Stanley boosted their price objective on shares of Marsh & McLennan Companies from $205.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday. TD Cowen initiated coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $189.00 price objective on the stock. Royal Bank of Canada upped their price target on shares of Marsh & McLennan Companies from $200.00 to $208.00 and gave the stock a “sector perform” rating in a research report on Friday, January 26th. Finally, Jefferies Financial Group upped their price target on shares of Marsh & McLennan Companies from $197.00 to $208.00 and gave the stock a “hold” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $204.73.

Marsh & McLennan Companies Price Performance

Shares of NYSE MMC traded down $1.80 during trading on Friday, reaching $199.93. The company had a trading volume of 202,553 shares, compared to its average volume of 1,707,559. Marsh & McLennan Companies has a 52 week low of $171.47 and a 52 week high of $209.20. The stock has a market cap of $98.67 billion, a PE ratio of 26.59, a PEG ratio of 3.59 and a beta of 0.90. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.10 and a current ratio of 1.10. The business’s 50 day moving average price is $202.77 and its 200-day moving average price is $196.72.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $2.89 EPS for the quarter, topping the consensus estimate of $2.80 by $0.09. The company had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.38 billion. Marsh & McLennan Companies had a net margin of 16.52% and a return on equity of 33.72%. Marsh & McLennan Companies’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.53 EPS. Analysts expect that Marsh & McLennan Companies will post 8.58 earnings per share for the current year.

Insider Activity

In other news, CFO Mark C. Mcgivney sold 12,494 shares of Marsh & McLennan Companies stock in a transaction on Monday, March 4th. The shares were sold at an average price of $200.79, for a total value of $2,508,670.26. Following the completion of the sale, the chief financial officer now owns 33,678 shares in the company, valued at approximately $6,762,205.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Marsh & McLennan Companies news, VP Stacy Mills sold 1,461 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $209.16, for a total transaction of $305,582.76. Following the completion of the sale, the vice president now owns 2,923 shares in the company, valued at approximately $611,374.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark C. Mcgivney sold 12,494 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $200.79, for a total transaction of $2,508,670.26. Following the completion of the sale, the chief financial officer now owns 33,678 shares of the company’s stock, valued at approximately $6,762,205.62. The disclosure for this sale can be found here. Insiders sold 36,751 shares of company stock worth $7,448,163 in the last quarter. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marsh & McLennan Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC increased its position in shares of Marsh & McLennan Companies by 105,777.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,772,516 shares of the financial services provider’s stock valued at $1,617,156,000 after buying an additional 9,763,286 shares during the period. Norges Bank bought a new stake in shares of Marsh & McLennan Companies during the fourth quarter valued at about $1,048,077,000. Price T Rowe Associates Inc. MD increased its position in shares of Marsh & McLennan Companies by 32.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,243,245 shares of the financial services provider’s stock valued at $1,940,789,000 after buying an additional 2,526,701 shares during the period. Morgan Stanley increased its position in shares of Marsh & McLennan Companies by 49.2% during the fourth quarter. Morgan Stanley now owns 6,293,827 shares of the financial services provider’s stock valued at $1,041,503,000 after buying an additional 2,075,928 shares during the period. Finally, Capital Research Global Investors increased its position in shares of Marsh & McLennan Companies by 331.5% in the first quarter. Capital Research Global Investors now owns 1,830,548 shares of the financial services provider’s stock worth $311,962,000 after purchasing an additional 1,406,293 shares during the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

About Marsh & McLennan Companies

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.